Xerox Holdings Corp. said Monday, Dec. 23, that it has agreed to purchase its supplier Lexmark International, Inc. from Ninestar Corp., PAG Asia Capital, and Shanghai Shouda Investment Center for $1.5 billion, including net debt and other assumed liabilities.
The transaction, which requires regulatory approvals and other customary closing conditions, is targeted to close in the second half of 2025, Xerox said.
The acquisition will boost Xerox's core print portfolio, enhance its ability to serve clients in the growing A4 color market, and diversify its geographic presence, including the Asia-Pacific region, Xerox said.
It would also streamline operations and drive efficiencies, with the combined company expected to be a vertically integrated manufacturer with 125 manufacturing and distribution facilities in 16 countries, according to a statement.
Xerox said it expects the transaction to help it attain its financial targets of revenue stabilization and double-digit adjusted operating income.
“Our acquisition of Lexmark will bring together two industry-leading companies with shared values, complementary strengths, and a deep commitment to advancing the print industry to create one stronger organization,” Xerox Chief Executive Steve Bandrowczak said.
The acquisition will combine Lexmark's imaging technologies and printers with Xerox's ConnectKey technology and print and digital services, Xerox added.
"We are excited to join Xerox and expand our reach with shared talent and a stronger portfolio of offerings,” Lexmark CEO Allen Waugerman said in the same statement. (Ventures Cebu)
Comentarios